Texas Codes
Tex. Fin. Code § 126.251 (2026)
Permissible Activities In Liquidation
✓ current as of May 2026
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Sec. 126.251. PERMISSIBLE ACTIVITIES IN LIQUIDATION. (a) A credit union in liquidation continues in existence to discharge debts, collect and distribute assets, and wind up the credit union's business.
(b) The credit union may sue and be sued to enforce debts and obligations until its affairs are fully adjusted.
Acts 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.